Soundeon ICO Review – Blockchain Powered Decentralized Music Platform

The music industry has been facing many hurdles over the years and as a result artists, technicians and music fans are the victims. Some of the major problems are listed below:

The royalty programs are not transparent and delay payments to the musicians.

The music publishing agreements are often governed by cost-deduction clauses or arbitrary terms which results in reduced and often delayed paychecks to the musicians.

The major music record labels or distributors constitute a vast majority of the industry and most of the power is vested in their hands. For e.g. Sony or Warner Brothers constitute about 70% of the label market.

Black marketing of tickets and fraudulent activities where the same concert ticket is sold multiple times.

Inflated prices of ticket are issued to the audiences.

Lack of connection between music production and user experience.

The music industry is a highly disorganized and extensive and is governed by many factors like music producers, managers, record labels, technicians, concert managers, ticket organizers and so on. There has been no such effort to understand and address to the problems of the musicians. Soundeon is a revolutionary effort made to look into the interests of the artists and to create a more favourable environment for the musicians and to create a closer relationship between fans and artists.

The Soundeon Solution

Soundeon is a decentralized music platform built on Blockchain technology that will integrate all the aspects of the music industry. It will provide full transparency in the system. It will enable musicians to have full control of their music and to have a better connection with their fans. It will look into the aspects like creating of copyright, artists funding programs, fair ticket management, etc. The ecosystem is based on smart contracts and ledger technology will ensure a fair and secure environment in digital media and ticket sales. The Soundeon Token is widely used for all transactions and services in the ecosystem. To become a verified account holder of the system you need to register your account with KYC service providers. Verified accounts are called identities. Once registered, all properties can be tokenized in the ecosystem.

The Soundeon Features

Musicians can now launch their own token sales and finance their personal projects.

A decentralized exchange on the ecosystem where artists can buy or sale their own royalty programs through smart contracts. The exchange can be done in Fiat, Soundeon or other cryptocurrencies.

A “Soundeon Monitor” where artists can keep a track of how much royalty is generated and protect their copyrights worldwide.

The CSC or Creative Smart Contract ensures each artist’s work is time stamped and gives them opportunity to submit their work to copyright registration authorities.

Soundeon will ensure timely and fair distribution of royalty payments to the artists.

A secure and transparent crowdfunding platform for raising funds for artists. Artists can now finance their projects by organizing Music Token Sale. Fans in return can fund their favourite artists by becoming co-owners of the copyright and also gain returns on future royalties and revenue streams.

The Soundeon exchange allows budding artists to compete with big labels. Fans can also participate in the exchange by financing the projects of the artists and become stakeholders of the system.

An easy-to-use API where fans can buy royalty streams through smart contracts.

The Soundeon Player is a Blockchain based music player and generates fair royalty distribution to all its members. Its decentralized registry keeps track of how many plays a particular track has and also provides high quality music generation.

Soundeon ensures privacy and security of all personal details of the members of the system.

A Fair standard ticket system where fans can buy tickets at face value and get suggestions about upcoming events.